{"id":22596,"date":"2023-11-27T23:56:00","date_gmt":"2023-11-27T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=22596"},"modified":"2025-04-24T08:01:57","modified_gmt":"2025-04-24T00:01:57","slug":"uranium-trading-rebounds-from-bottom","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/","title":{"rendered":"Uranium trading rebounds from bottom"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Uranium_uses\" >Uranium uses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Uranium_resources_are_too_concentrated\" >Uranium resources are too concentrated<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Uranium_manufacturers\" >Uranium manufacturers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Two_major_catalysts\" >Two major catalysts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Prices_skyrocket_in_2023\" >Prices skyrocket in 2023<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Related_Uranium_Trading_Index\" >Related Uranium Trading Index<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uranium_uses\"><\/span>Uranium uses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the Canadian Government website (GC), <a href=\"https:\/\/en.wikipedia.org\/wiki\/Uranium\" target=\"_blank\" rel=\"noreferrer noopener\">uranium <\/a>is mainly used to produce fuel for nuclear power plants, accounting for more than 99% of the total demand. Other uses of less than 1% include the production of medical isotopes and research reactor fuel.<\/p>\n\n\n\n<p>Demand for nuclear power installations is expected to continue to rise due to energy security and transformation considerations. According to &#8220;Extracting Minerals from Seawater: An Energy Analysis&#8221;, 1GW of nuclear power consumes 170 tons of uranium every year. Mining investment media Crux Investor previously reported that about 60 nuclear power plants are currently under construction around the world and will consume 30 million pounds of uranium as fuel every year in the future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uranium_resources_are_too_concentrated\"><\/span>Uranium resources are too concentrated<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fifteen countries in the world own 95% of the world&#8217;s uranium resources. The three largest uranium resource countries in the world are Australia (accounting for 28%), Kazakhstan (13%), and Canada (10%).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uranium_manufacturers\"><\/span>Uranium manufacturers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Since the world&#8217;s major uranium mining projects have basically lowered their production expectations in 2023, some projects will only begin to resume production and increase production in 2024. <\/p>\n\n\n\n<p>For example, Cameco&#8217;s (ticker: CCJ) Cigar Lake and Key Lake projects have lowered their production expectations in 2023 due to facility maintenance and other reasons. Kazatomprom (ticker: NATKY) has increased its 2024 production plan, and Paladin (ticker: PALAF) plans to resume production of the Langer Heinrich project in the first quarter of 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Two_major_catalysts\"><\/span>Two major catalysts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The global increase in uranium is already limited, and the overall global production growth is slow. As the growth of nuclear power plants drives up the demand for natural uranium, as the gap between supply and demand expands, uranium prices are expected to turn around.<\/p>\n\n\n\n<p>After the outbreak of the Russia-Ukraine conflict, nuclear energy, regarded as low-carbon energy, once again entered the vision of decision-makers in various countries, and market demand continued to recover.<\/p>\n\n\n\n<p>These two major reasons make uranium trading expected to enter a ten-year bull market cycle from the bottom of the past decade.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prices_skyrocket_in_2023\"><\/span>Prices skyrocket in 2023<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the past two or three years, geopolitics, energy diversification and other factors have driven a wave of global nuclear energy renaissance, and the price of uranium, the main fuel for nuclear power generation, has followed the trend. The price of uranium has risen by 125% since the end of 2020, and by the end of November in 2023, the cumulative increase in uranium prices has exceeded 60%.<\/p>\n\n\n\n<p>On November 20, 2023, the uranium futures price on the New York Mercantile Exchange (NYMEX) reached a maximum of $80.25 per pound, a new high in 15 years. Uranium prices have risen strongly this year, mainly because after the Russia-Ukraine war started in early 2022, Western countries have changed their stance on phasing out nuclear power and regarded nuclear power as one of the options for energy diversification to get rid of the constraints of relying on imported Russian oil and natural gas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_Uranium_Trading_Index\"><\/span>Related Uranium Trading Index<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As of November 21, 2023:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The North Shore Global Uranium Mining ETF (URNM.US), which tracks the North Shore Global Uranium Mining Index, has surged 55.67%.<\/li>\n\n\n\n<li>ETF tracks the Solactive Global Uranium and Nuclear Content Total Return Index (Solactive Global Uranium &amp; Nuclear Components Total Return Index) Global X Uranium Price ETF (URA.US) also surged 42.98%.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"140\" height=\"124\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2023\/11\/u-1600x1200-1.jpg\" alt=\"Uranium \" class=\"wp-image-22603\"\/><figcaption class=\"wp-element-caption\">credit: nrc.gov<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/27\/uranium-trading-rebounds-from-bottom\/\">Uranium trading rebounds from bottom<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/23\/china-monopolize-rare-earth\/\">Why China monopolize rare earths supply and choke America&#8217;s neck?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/10\/30\/nuclear-power-stocks\/\">Nuclear power stocks spike as AI ignited electricity demand<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/10\/08\/companies-destroyed-by-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">How did Japan, Alstom, Toshiba, Via, HTC and Taiwan&#8217;s panel industry collapse?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/12\/27\/inflation-reduction-act\/\">The impact of the Inflation Reduction Act on US stocks<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/08\/19\/carbon-capture\/\" target=\"_blank\" rel=\"noreferrer noopener\">Carbon capture current developments, prospects, and related companies<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/05\/25\/nuclear-fusion\/\">The current progress of nuclear fusion, and relevant companies<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/09\/18\/duke-energy\/\" target=\"_blank\" rel=\"noreferrer noopener\">Duke Energy, representative of monopoly energy companies<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/01\/18\/nextera-energy\/\">How does Renewable Energy Giant NextEra Energy make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/29\/american-water-works\/\">How does American Water Works make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/08\/03\/superconductor-progress\/\">Why are superconductors important? current progress and related companies<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The price of uranium has risen by 125% since the end of 2020, and by the end of November in 2023, the cumulative increase in uranium prices has exceeded 60%.<\/p>\n","protected":false},"author":1,"featured_media":22603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[809,808,1066,479],"tags":[1144,1145,1146],"class_list":["post-22596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basic-materials","category-energy","category-green-energy","category-utility","tag-ccj","tag-natky","tag-palaf"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/22596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=22596"}],"version-history":[{"count":10,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/22596\/revisions"}],"predecessor-version":[{"id":35950,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/22596\/revisions\/35950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/22603"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=22596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=22596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=22596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}